Rebar prices hit bottom in Jordan causing demand to improve

In the Jordanian domestic rebar market, prices have remained unchanged over the last two weeks, while demand is now better, supported by many traders having low inventory levels and buyers' belief that rebar prices have reached the bottom.
 
Accordingly, medium sized rebar prices in Jordan are still standing at the price range of JOD 645-650/mt ($908-915/mt) ex-works, including eight percent VAT, on actual weight basis, for 30-day deferred payment.
 
In addition, SteelOrbis has learned that steel billet demand is also at good levels in Jordan and in the last two weeks approximately 25,000 mt of steel billet bookings in total were concluded from Turkey and the CIS. However, it is also reported that, due to the ongoing political disorder in Syria, freight rates from Turkey and the CIS to Jordan have increased and this has led Jordanian buyers to begin purchasing billet from Kuwait.
 
JOD 1 = $1.408